Vietnam sees surge in rubber exports
Exports of natural rubber have increased significantly according to the Ministry of Agriculture and Rural Development.
In the first four months of 2015, the export volume for natural rubber hit 259,000 tonnes, up by 37.7 percent compared to the same period last year.
However, export turnover only totalled USD371 million, a 0.6 percent decline with an average price of USD1,420 per tonne, which is 29.15 percent lower than last year.
In April, Vietnam exported 58,000 tonnes of natural rubber, generating USD84 million.
Major markets include China, Malaysia and India, who account for 68.08 percent of Vietnam’s natural rubber market share.
Recently, domestic rubber prices have started to show signs of recovery, but prices are still lower than in early April 2015.
In the southern province of Binh Phuoc, the purchasing price for SVR 3L rubber is around VND29,900 (USD1.4) per kilogram. It sells on the Singaporean trade market and it’s offered on the Singapore Commodity Exchange Sicom for USD1,670 per tonne./.